Schneider Electric SA Looks at Offloading Sensors Unit

The largest manufacturer of low and medium voltage equipment, Schneider Electric SA may be considering selling its sensors unit. The French company which is located close to Paris had considered selling the Custom Sensors & Technologies unit once before in 2008 before the recession hit global markets.

Selling the sensor unit will bring in an estimated $1.4 billion for the company but it has not yet made a formal decision regarding going ahead with the sale. The sensor unit is located in Moorpark in California and manufactures sensors which react to change in pressure and temperature. They are utilized in the automotive and aeronautic industry.

The Custom Sensors a& Technologies unit had been built up via acquisition in the last ten years. Sales had risen 21% for the unit in the last year with a profit being posted of 71 million euros. The unit will interest private equity firms and corporate buyers.

Chief Executive Officer Jean-Pascal Tricoire of Schneider Electric said that the firm was hoping to expand its automation products and systems that helped to improve the energy management and efficiency in buildings and factories.

Schneider has acquired three new units in the last month which include the $ 2 billion takeover of Telvent GIT SA a Spanish software company and a $ 650 million purchase of Leader Harvest Power Technologies a Chinese drives manufacturer.

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